Slovenia's January net power output rises 2% m/m
Ljubljana stock exchange indices start week down
Croatian share indices close barely changed in higher turnover
Bosnia's building permits up 5.8% y/y in Jan
Bosnia's Federation building permits down 2.7% y/y in Jan
Jan 22, 2024 16:57 EEST
January 22 (SeeNews) - A slight pickup of demand for office space is expected this year in Romania due to low supply and strong demand for well-located, ESG-compliant buildings, U.S.-based real estate brokerage firm Colliers said.
Colliers expects the office market in the country to be a landlords' market in 2024, it said in its Top 10 Predictions for Romania in 2024 report, released on January 18.
The overall outlook for the Romanian warehouse market remains positive in 2024 due to strong demand and a limited supply of modern warehouse space, according to Colliers. The increase in warehouse rents in Romania may put off some international companies, but the country still offers a competitive cost structure for logistics operations.
Romania is undergoing a major infrastructure overhaul, with a focus on improving road and rail networks, Colliers noted. The country's 1,100 kilometres long high-speed road network is expected to double in size by 2030, and major modernisation works are also being carried out on the railways. This, together with the country's potential Schengen area entry for terrestrial borders is expected to attract investment to regions with lower wages and improved availability of employees, leading to a better distribution of growth and economic resources.
The country's economy is expected to grow by at least 3% in 2024 due to capital inflows, infrastructure improvements, the re-shoring trend, and a tight labor market, Colliers also said.
The Romanian investment market is expected to improve in 2024 as interest rates begin to fall. According to Colliers' estimates, the volume of deals is still uncertain but could be similar to last year's 500 million euro ($544.4 million) as the possible completion of several large-scale projects would drive the volume higher.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options